Washington, DC–(ENEWSPF)–December 5, 2014.
Illinois Pension Reform Law Ruled Unconstitutional
A Sangamon County Circuit Court judge ruled before Thanksgiving that an Illinois law aimed at easing the state’s unfunded pension liability is unconstitutional, handing a victory to labor unions and state retirees who challenged the law. The law decreases cost-of-living adjustments, caps pensionable salaries and raises retirement ages. It also decreases employee contributions by one percentage point, creates a defined contribution plan for a portion…
